To ease storage woes, the government on Tuesday has taken a decision to allow the export of two million tonnes of wheat from central stocks. The decision, taken by the Cabinet Committee on Economic Affairs (CCEA) after a long deliberation, will pave the way for export of grains from the central pool after a gap of more than five years.
“CCEA has approved the export with a floor price of $228 (about Rs 12,400) per tonne,” Food Minister K V Thomas told reporters after the meeting.
The exports, however, will not happen in one go. A high-powered committee of officials will monitor the shipments depending on the international market price. Official said there was a long discussion on the price at which the wheat should be sold by government, as the international markets have firmed since the time the tender was floated last month.
“The committee, headed by a senior official of the commerce ministry, will ensure that shipments are done in a staggered manner keeping in mind the domestic requirement and the international price situation,” Thomas said.
